facts, if the grocer, knowing A, allows him to pay on a later date, granting then only credit on the goods, and after a few days, A pays with a check that eventually bounc

Please answer the question in the picture below

Rush Co has a credit balance of RM54 in Jack Co’s receivables ledger. Which of these would explain this balance? A. Rush Co received a credit note for RM54 from Jack but Jack posted in the account of Twice Co. B. Rush Co sent a cheque to Jack for RM46 in respect of an invoice of RM100. C. Rush Co paid an invoice RM54, even though this invoice was subsequently cancelled. D. Rush Co bought but returned goods to Jack, totaling RM54. A credit note is yet to be issued.

Vikarm

Which of these transactions requires a credit entry to Revenue? A. received cash from services performed this month B. collected balance due from customers C. received cash from bank loan D. refunded a customer for a defective product

the sellers accept an offer received on February 1. They later find out that the scheduled closing date needs to be changed because the buyers loan has not yet been approved. Which is the best way to handle the situation  close the escrow, with the buyer giving the attorney a check post dated to the new closing date a seperate agreement covering the change in closing date should be written, signed by all parties and attached to the sales contract  the sellers should give the buyer a signed acknowledgement of extension of time originial closing date on their contract should be crossed out and a new date written and both parties initial the change

1. The way to build good credit is to: A. Secure a credit card, but never use it B. Pay off the credit card in full, each month C. Purchase unnecessary items D. All of these   2. Credit reports: A. Only report credit history under your current name B. Only report payments that were made on time C. Can only be secured without your permission D. Show any liens, foreclosures, or bankruptcies   3. Money coming in is called: A. Gross amount B. Expense C. Income D. All of these E. None of these

Your new company paid the invoice for their account with Alli's Broom Supply Company. What would your journal entry look like when you record this transaction? a) Debit Cash; Credit Accounts Payable b) Debit Cash; Credit Supplies Expense c) Debit Accounts Receivable; Credit Cash d) Debit Accounts Payable; Credit Cash

Describe 2 accrual transactions and 2 deferral transactions. For the accrual transactions, please use credit or debit sales and credit purchase. For the deferral transactions, please use prepaid insurance and prepaid telephone charges. Note: This can be made up amounts, just as long as they make sense. This is for an Electrotechnology Sales and Repairs business. Please include the dates that the transactions occurred. Please see below, as I have included an example of what the end product should look like. Please include an explanation as to what was done.    Accruals: 1. On March 30, 2021 Ortiz LLC provided accounting reservices for Beker Law firm and sent them a bill for $5,000. Payment has not been received to this day. 2. Store supplies of $200 are on hand. The supplies account shows a $1,900 balance. Deferrals: 1. On April 1, 2021. ORTIZ LLC paid $12,000 for a one-year insurance Policy.  2. On February 1, 2021 . ORTIZ LLC received $20,000 for accounting services for 1 year.

Which of the following is the entry to be recorded by alaw firm when it receives a payment from a new client thatwill be earned when services are provided in the future?a. Debit Accounts Receivable; credit Service Revenue.b. Debit Unearned Revenue; credit Service Revenue.c. Debit Cash; credit Unearned Revenue.d. Debit Unearned Revenue; credit Cash